BILL NUMBER:S8356

TITLE OF BILL:
An act
to amend the public authorities law, in relation to emerging technology
industrial classifications for clean environment and energy technologies

PURPOSE OR GENERAL IDEA OF BILL:
The intent of this legislation is to
add clean environmental and energy technologies to the list of
emerging industrial classifications in New York State. Summary of

SPECIFIC PROVISIONS:
A new subparagraph seven is added to section 3102-e of the
Public Authorities Law to read as follows: (7) clean environment and
energy technologies that involve new and innovative pollution
reduction methods, renewable resource energy generation or storage,
and energy efficiency measures such as smart grid, automated or
computerized energy control systems designed to deliver electric
generation to the end use customer in an integrated manner using the
latest advances in digital and informational technology to improve
electric system efficiency.

JUSTIFICATION:
The intent of this legislation is to add clean
environmental and energy technologies to the list of emerging
              

industrial classifications in New York. State. This classification
will allow entrepreneurs and business involved in cutting edge clean
environmental and energy technologies to be certified as a "Qualified
Emerging Technology Company" which would make them eligible for
additional capital tax credits and investment opportunities.

Currently, for a company to be certified as by the NYS Commissioner of
Tax and Finance for tax breaks as emerging technology company (QETC),
the industry must be as defined under section 3102-e of the public
authorities law (PAL), be located in New York State, and have total
annual product sales of $10 million or less. The current emerging
technologies under section 3102-e(1)(b) of the PAL those technologies
related to: advanced materials and processing; engineering,
production, and defense; electronic and photonic devices and
components; information and communication technologies;
biotechnologies; and, remanufactuting.

In New York State, significant investment is already being made by
businesses and utilities, as well as the New York State Energy and
Research Development Authority (NYSERDA), the. Empire State
Development Corporation (ESDC), the Public Service Commission (PSC),
the Division of Housing and Community Renewal (DHCR) and the New York
State Foundation for Science, Technology and Innovation (NYSTAR). In
addition to State funding, there has also been increased funding
available from the federal sources. This growth is expected to create

new business opportunities and integrate clean environmental and
energy technologies, practices and services across all sectors.

While significant investment is being made in New York, the State
faces the threat of falling behind in the race to develop the clean
environmental and energy technologies to other states such as
California, Connecticut, Maine, Maryland, Massachusetts, New Jersey
as well as several other states being to actively pursue supporting
these technologies. If New York State fails to aggressively promote
these technologies, it would mean a significant loss of revenue, but
also a significant job loss from a sector that is actively working to
train and develop a skilled workforce capable of supporting these
industries.

PRIOR LEGISLATIVE HISTORY:
New 2010.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
This act shall take effect immediately.